Greece: New Rent Relief Measures for January-February

Monastiraki Square, Athens. Photo Source: Visit Greece / Y. Skoulas

Greek businesses forced to remain closed through to January 11 due to extended lockdown measures imposed to curb the spread of Covid-19 will not be required to pay rent for the month of January, the Greek finance ministry announced.

Property owners will be compensated with 80 percent of the agreed upon monthly rent, and not on the loss, the ministry announcement said.

According to the decision, the cost of rent will be shared: 80 percent by the state and 20 percent by the owner.

In addition, legal entities that lease real estate to companies will be reimbursed with 60 percent of the monthly rent for January.

The decision applies to retail, catering, culture and sports services, tourism  – including hotels, accommodation facilities, travel agencies – and transport enterprises, hairdressers, beauty salons, bookstores and businesses that remain closed by state order until January 11.

At the same time, businesses that have remained closed since the holidays, including tourism and transport companies, will be able to pay reduced rent by 80 percent in February, as initially announced. The remaining costs will be covered by state: 60 percent and property owner 20 percent.

Legal entities – owners leasing properties to businesses mentioned above will be reimbursed 40 percent of the monthly rent for February.

In response to the news, the Panhellenic Federation of Property Owners (POMIDA) sent a letter to the finance ministry requesting compensation to property owners facing loss of income be accelerated.